{"id":85487,"date":"2024-08-31T10:03:25","date_gmt":"2024-08-31T10:03:25","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/08\/31\/mbadi-proposes-tight-money-laundering-curbs-to-combat-terrorism-financing\/"},"modified":"2024-08-31T10:03:25","modified_gmt":"2024-08-31T10:03:25","slug":"mbadi-proposes-tight-money-laundering-curbs-to-combat-terrorism-financing","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/mbadi-proposes-tight-money-laundering-curbs-to-combat-terrorism-financing\/","title":{"rendered":"Mbadi proposes tight money laundering curbs to combat terrorism financing"},"content":{"rendered":"<p><strong>NAIROBI, Kenya, Aug 31\u2014 Treasury Cabinet Secretary John Mbadi has emphasized the urgent need to address the shortcomings in Anti-Money Laundering and Combating the Financing of Terrorism (AML\/CFT) regulatory frameworks across the region.<\/strong><\/p>\n<p>Speaking Friday at the 24th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Council of Ministers Meeting in Kwale, CS Mbadi reiterated the importance of political will and leadership in the fight against the vice.<\/p>\n<p>ESAAMLG, a Financial Action Task Force (FATF)-style regional body, includes 14 member countries such as Kenya, Botswana, Lesotho, Malawi, Mauritius, and Mozambique.<\/p>\n<p>According to a statement from the Treasury, the regional meeting marked 25 years of efforts to combat money laundering and terrorist financing.<\/p>\n<p>\u201cCS Mbadi emphasized the critical role of the Council of Ministers in providing strategic guidance for combating money laundering and terrorism financing,\u201d the Treasury said.<\/p>\n<p>The Finance CS highlighted that with 50 per cent of Africa\u2019s greylisted countries being from ESAAMLG, it is crucial to find solutions to improve compliance.<\/p>\n<p>FATF President Elisa de Anda Madrazo, underscored the significant role of the ESAAMLG Council of Ministers both in the region and globally.<\/p>\n<p>She also outlined the FATF\u2019s priorities for her presidency, including efforts to enhance financial inclusion.<\/p>\n<p>\u201cFinancial inclusion is not just an ethical imperative; it is an economic necessity,\u201d she said.<\/p>\n<p>\u201cIt drives poverty reduction, empowers individuals, and stimulates economic growth.\u201d<\/p>","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Kenya, Aug 31\u2014 Treasury Cabinet Secretary John Mbadi has emphasized the urgent need to address the shortcomings in Anti-Money Laundering and Combating the Financing of Terrorism (AML\/CFT) regulatory frameworks across the region. Speaking Friday at the 24th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Council of Ministers Meeting in Kwale, CS Mbadi reiterated [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-85487","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/85487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=85487"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/85487\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=85487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=85487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=85487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}